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Insurance Financing Note Payable
12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Insurance Financing Note Payable
Insurance Financing Note Payable

On June 3, 2019, the Company entered into a short-term note payable for $1.9 million, bearing interest at 4.65% per annum to finance various insurance policies. Principal and interest payments related to this note began on July 3, 2019 and are paid on a straight-line amortization over a 10-month period with the final payment due on April 3, 2020. As of December 31, 2019, the Company’s insurance note payable balance was $0.8 million. Interest expense was $24,547 for the year ended December 31, 2019. Interest expense is included under other income (expense) within the Interest Income item on the consolidated statement of operations herein.